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Patrick Leary, J. (2019). Share. In Patrick Leary, J. Keywords: The New Language of Capitalism. Haymarket Books, pp. 156-158

158

If the technology behind the sharing economy is not the source of its dominance, though, what is? "Financialization" may be the most relevant answer. "Finance, at its most basic level," writes the cultural critic Alison Shonkwiler, "is the domain in which value is less likely to be produced than captured and/or extraction, typically by managing a degree of risk." The "financialization" of the ecconomy is the orientation of capital accumulation (i.e., making money from the labor of others) around this extraction of value. Shonkwiler, following critics like David Harvey, argues that financialization is what is really new about the economy of the turn of hte twenty-first century. In the sharing economy, neither homes nor technologies are produced; instead, rents are extracted from assets owned by others. [...]

i like this, very clear

—p.158 by John Patrick Leary 5 years ago

If the technology behind the sharing economy is not the source of its dominance, though, what is? "Financialization" may be the most relevant answer. "Finance, at its most basic level," writes the cultural critic Alison Shonkwiler, "is the domain in which value is less likely to be produced than captured and/or extraction, typically by managing a degree of risk." The "financialization" of the ecconomy is the orientation of capital accumulation (i.e., making money from the labor of others) around this extraction of value. Shonkwiler, following critics like David Harvey, argues that financialization is what is really new about the economy of the turn of hte twenty-first century. In the sharing economy, neither homes nor technologies are produced; instead, rents are extracted from assets owned by others. [...]

i like this, very clear

—p.158 by John Patrick Leary 5 years ago